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Rh distractions of his affairs are notorious. He is now in a state of war with his people. In vain did the Catholic King solicit him to take part in the quarrel against us. His finances were in the last disorder, and it was probable that his troops might find sufficient employment at home. In these circumstances, we might have dictated the law to Spain. There are no terms, to which she might not have been compelled to submit. At the worst, a war with Spain alone, carries the fairest promise of advantage. One good effect at least would have been immediately produced by it. The desertion of France would have irritated her ally, and in all probability have dissolved the family compact. The scene is now fatally changed. The advantage is thrown away. The most favourable opportunity is lost.—Hereafter we shall know the value of it. When the French King is reconciled to his subjects; when Spain has compleated her preparations; when the collected strength of the house of Bourbon attacks us at once, the King himself will be able to determine upon the wisdom or impudence of his present conduct. As far as the probability of argument extends, we may safely pronounce, that a conjuncture, which